Tuesday, January 4, 2011

2011 Assessment Notices are Mailed and the Assessment Customer Review Period Begins




Today, The City of Calgary mailed approximately 472,500 Property and Business  2011 Assessment Notices  and commenced the Assessment 2011 Customer Review Period, which runs from January 4 to March 7, 2011.

The 2011 Property Assessment values are based on a July 1, 2010 market valuation date and December 31, 2010 physical condition date as legislated by the Province of Alberta through the Municipal Government Act (MGA).  The 2011 Business Assessment values are based on the July 1, 2010 typical net annual rental value of business premises.

The assessed values, which are used as the basis for determining property and business taxes, are prepared annually by The City of Calgary.

“Preparing assessments on an annual basis ensures property and business owners’ assessments maintain currency with changing market conditions and experience more stability in year to year property and business tax levels,” says Stuart Dalgleish, Calgary’s City Assessor.  “The market establishes the value of properties and businesses in Calgary; we simply measure that market value as of July the 1st each year prior to the taxation year.”

The 2011 Customer Review Period provides customers with the opportunity to review and ensure the accuracy of their 2011 Assessment and learn more about Calgary’s assessment system. A variety of tools and resources, beyond the information provided on the Assessment Notices, are available at calgary.ca/assessment to help customers conduct an in-depth review of their assessment.

“This year, online users may notice a new look and feel to Assessment’s popular Property Search area under Assessment Search on calgary.ca/assessment.  The City replaced its previous assessment data search application with a new application with upgraded GIS maps and tools. The new application has enhancements and new security measures. Users will still be able to access the same property assessment information they have grown accustom to reviewing while experiencing improvements in the maps and tools used. The maps provide a richer look and feel and the new search capabilities allow flexible navigation - getting customers to where they want to go easier than before,” says Dalgleish.

If customers still have questions after reviewing their assessment, they can call the Assessment business unit at 403-268-2888 during the 2011 Customer Review Period to have their inquiries answered over the phone or, if necessary, to book an appointment with an assessor.

The City of Calgary 2011 Property and Business Assessment Rolls Key Findings

2011 Property Assessment Roll:

  • Based on the market value of property as of July 01, 2010.
  • Total number of accounts on the 2011 Property Assessment Roll is 447,000.
  • Total value of the 2011 Property Assessment Roll is $231 billion.
  • As a result of the 2011 Assessment, the typical residential property assessment change is 8% between 2010 and 2011.
  • This year, approximately 93% of residential properties’ revenue neutral taxes will be within plus or minus 10% of last year’s taxes.
    • 45% or just under ½ of residential properties will see a revenue neutral tax decrease due to the 2011 assessment.
    • 55% or just over ½ of residential properties will see a revenue neutral tax increase due to the 2011 assessment.
  • 2011 median single residential assessment (excluding condominiums) is $410,000 compared to $374,000 in 2010. 
  • 2011 median residential condominium assessment is $250,000 compared to $233,000 in 2010. 
  • As a result of the 2011 assessment, the typical non-residential property assessment change is -8% between 2010 and 2011.
  • This year, approximately 44% of non-residential properties’ revenue neutral taxes will be within plus or minus 10% of last year’s taxes.
    • 32% or just under ⅓ of non-residential properties will see a revenue neutral tax decrease.
    • 68% or just over ⅔ of non-residential properties will see a revenue neutral tax increase.
  • Any changes to the real estate market after 2010 July 01 will be reflected in values prepared for the 2012 Property Assessment Roll.
2011 Business Assessment Roll:

  • Based on the typical net annual rental value of business premises as of July 01, 2010.
  • Total number of accounts on the 2011 Business Assessment Roll is 25,530.  
  • Total value of the 2011 Business Assessment Roll is $2.7 billion.
  • As a result of the 2011 assessment, the typical business assessment change is -14% between 2010 and 2011.
  • This year, approximately 34% of businesses’ revenue neutral taxes will be within plus or minus 10% of last year’s taxes.
    • 30% of businesses will see a revenue neutral tax decrease.
    • 70% of businesses will see a revenue neutral tax increase
  • Any changes to the typical net annual rental market after 2010 July 01 will be reflected in values prepared for the 2012 Business Assessment Roll. 

For key dates and Assessment activities, please visit calgary.ca/assessment


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